Proterra, Key partner for financing program

Posted on February 19, 2013

Proterra Inc. announced it entered into an agreement with Key Equipment Finance to offer a simple, straight-forward financing package for transit agencies, corporations and other commercial entities seeking to purchase Proterra buses.

The new partnership is designed to provide transit agencies with an additional method of funding the local portion of Federal Transit Administration (FTA) supported bus purchases. With many federal grant programs no longer available and many transit properties unable to secure the local match dollars needed to supplement their FTA funding, this new option will be attractive to agencies of all sizes looking to upgrade or expand their fleets.

Under terms of the deal, purchasers can finance up to 100% of the cost of each bus, allowing them to spread their payments over time and provide for a capital cushion in an uncertain economic environment.

With the growing movement toward more sustainable transportation, Proterra and Key Equipment Finance also believe that this financing option will generate interest from commercial buyers, including corporations and colleges and universities, who are more accustomed to equipment financing.

Because Proterra buses have been proven to dramatically reduce fleet operating expenses through significant fuel and maintenance cost savings, Proterra predicts that many agencies and corporations will be able to pay for the bus financing with these savings.

View comments or post a comment on this story. (0 Comments)

More News

Fla.'s JTA sets launch date for new BRT service

The 9.4 mile Green Line on the North Corridor will feature direct, high-frequency service; 18 branded stations; complimentary Wi-Fi, a Park-n-Ride lot, and real-time bus arrival information.

Canadian bus service to block Internet streaming

Some customers have reported slow internet service, while others couldn't connect at al, due to Internet streaming issues.

Nova Bus names new east coast regional sales manager

Prior to joinging Nova, John Manzi served as eastern regional transit sales manager for a major transmission manufacturer.

Shuttle, circulator routes drawing thousands of riders in Miami

These services carried more than eight million passengers last year in 27 municipalities and are praised by riders and public officials alike as successful transit programs.

Calif.'s VVTA unveils Google trip planner update, web app

VVTA staff coordinated with the county and cities to maintain route and stop accuracy throughout the release cycle. Meeting the needs of the many departments at each agency added to the complexity of the project.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close